will i get taxed on £92 wadge pw?
if so how much? im doing 16 hours a weekat £5.75ph If i do a few more extra hours a week would it be worth it or will they tax that and ill end up with what i would get if i did 16 hours and no tax? thanks
Update:i meant wage :)
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Not on earnings of £92 per week, but you will if you exceed £104.42 in a week.
Everyone is allowed what is called a tax free allowance. This is the amount you can earn a year before you start paying tax.
This is currently £5,435. So £92x52 =£4,784 means you will not pay income tax.
However, because Gordon Brown wants as much money as possible from us, but does not want to put up income tax he has increased National insurance contributions massively.
But again you almost escape. This is set at £90 pw.
So you might pay a very small amount of NI, but in your case it really won't be much if your employer even bothers to collect it at all.